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International Tax Cooperation Framework
December 9 , 2022
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- The UNGA unanimously adopted a resolution to develop an international tax cooperation framework or instrument based on a UN intergovernmental process.
- Nigeria submitted this resolution on behalf of a consortium of 54 African countries.
- It will put an end to the Organisation for Economic Co-operation & Development’s 60-year role as the regulator of taxations across the world.
- Similar framework has been proposed by the OECD.
- The proposed framework is expected to benefit developing countries in Africa and Asia.
- The “Two Pillar Solution”, which was spearheaded by the OECD, aims to address the tax challenges that are occurring within the digital economy.
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